Design Therapeutics, Inc. (NASDAQ:DSGN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Design Therapeutics, Inc. (NASDAQ:DSGN) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $16.50.

Several analysts have recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Design Therapeutics in a research report on Tuesday, May 12th. They set an “overweight” rating on the stock. Wall Street Zen raised shares of Design Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Design Therapeutics in a research note on Friday, July 17th.

Design Therapeutics Stock Up 0.7%

DSGN stock opened at $15.14 on Friday. Design Therapeutics has a twelve month low of $5.28 and a twelve month high of $17.25. The business’s 50-day moving average price is $14.12 and its 200-day moving average price is $12.51. The stock has a market cap of $947.46 million, a P/E ratio of -12.83 and a beta of 1.66.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. On average, equities research analysts expect that Design Therapeutics will post -1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Design Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in shares of Design Therapeutics by 275.2% in the second quarter. California State Teachers Retirement System now owns 4,847 shares of the company’s stock worth $70,000 after buying an additional 3,555 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Design Therapeutics in the 2nd quarter worth approximately $26,189,000. Susquehanna Fundamental Investments LLC purchased a new position in Design Therapeutics during the 2nd quarter valued at about $182,000. Wellington Management Group LLP purchased a new position in shares of Design Therapeutics in the second quarter valued at approximately $281,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Design Therapeutics in the second quarter valued at $300,000. Hedge funds and other institutional investors own 56.64% of the company’s stock.

About Design Therapeutics

Design Therapeutics, Inc a biopharmaceutical company, researches, designs, develops, and commercializes small molecule therapeutic drugs for the treatment of genetic diseases in the United States. The company utilizes its GeneTAC platform to design and develop therapeutic candidates for inherited diseases caused by nucleotide repeat expansion. Its lead product candidates for potentially disease-modifying treatment comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function that brings to neurological, cardiac, and metabolic dysfunction; Myotonic Dystrophy Type-1, a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs; Fuchs Endothelial Corneal Dystrophy, a genetic eye disease characterized by bilateral degeneration of corneal endothelial cells and progressive loss of vision; and Huntington's Disease, a dominantly inherited, monogenic neurodegenerative disease characterized by movement, cognitive, and psychiatric disorders.